In This Episode:
Dave Moore, a Digital Advertising Entrepreneur & Executive who spent over 4 decades at the intersection of media, technology, and advertising, shares his best advice on being a successful leader today.
Moore’s Law: Leadership Advice from Dave Moore:
- Leadership by Example: I often took the lead on projects and performed them to the best of my ability to set a good example for my team.
- Emphasis on Collaboration: While achieving consensus can be challenging, getting input from everyone is crucial for me, even if others don’t always agree with my ideas or strategies.
- Adaptability: My leadership style evolved over my career. I started out as a salesman, so my initial approach was fueled by optimism and enthusiasm. Over time, I learned to temper this with a dose of reality.
- Perseverance through Difficult Times: Life, and business, doesn’t always follow a straight path up and to the right. It’s essential to have confidence that you can navigate the valleys and come back to a peak again.
- Honesty and Transparency: It’s important for a leader to maintain a realistic outlook and to be transparent about this with their team.
- Navigating Mergers: Merging three companies to form 24/7 Media was a complex task that required a lot of finesse, understanding, and clear communication of roles.
- Navigating Culture Clash: Each company had a different culture, and it took some time to weed out those who weren’t willing to be part of the new organization, with some choosing to leave on their own.
- The Power of a Good Strategy: Despite the initial challenges and growing pains, a solid strategy was key to the successful launch and growth of our company.
- No Room for Quitters: In times of difficulty, I firmly believed in fighting till the end. I offered my executive team the option to leave during the dark times, but I let them know that I expected commitment from those who chose to stay. I placed a high value on loyalty and determination.
- Honesty and Integrity: I cannot over-emphasize the importance of honesty and integrity in leadership. This includes transparency, even when difficult messages need to be conveyed.
- Enthusiasm and Work Ethic: Leaders should demonstrate enthusiasm and a strong work ethic, setting an example for their teams. Create a learning environment for continuous growth.
- Recognizing and Rewarding Performance: Leaders should recognize and reward successful performance while also holding people accountable for their actions. It is a vital part of maintaining a performance-oriented organization.
- Facing Reality: When stock options became worthless, Dave had to deal with the harsh reality and manage the resentment from his team. This speaks to the need for leaders to deal with difficult situations and manage employee emotions.
- Change Management: Executives are often guilty of not making personnel changes soon enough. Leaders must be compassionate but decisive when performance standards aren’t met.
- Constant Adaptation: Great leaders adapt. Whether it’s advancements in AI or shifts in the global economy, leaders must put their teams in position to successfully change course based on new information and trends. There is rarely a straight line to success.
- Importance of Peer Groups: I was a member of Vistage when I was CEO. My group provided valuable insights and solutions to problems I shared with them. It was an important outlet during challenging times in my career.